5420 28th Street, Gulfport, MS 39501
5420 28th Street, Gulfport, MS 39501
5420 28th Street, Gulfport, MS 39501
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LaShonda Catchings

LaShonda Catchings

+1(601) 937-1089
$629,900
Est. payment /mo
24 Beds
12 Baths
8,700 SqFt
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Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 8,700 sqft

Price per Sqft $72

Subdivision Kennelworth Park

MLS Listing ID 4150839

Style Traditional

Bedrooms 24

Full Baths 12

HOA Y/N No

Year Built 1979

Annual Tax Amount $5,694

Lot Size 0.620 Acres

Acres 0.62

Lot Dimensions 210' x 129'

Source MLS United

Property Description

PRICE IMPROVEMENT — NOW $629,900, $105,100 BELOW ORIGINAL LIST. Rare investment opportunity directly across from the north entrance of Naval Construction Battalion Center (NCBC) Gulfport — one of the Gulf Coast's most reliable demand drivers for residential rentals. This 13-unit mixed-use portfolio spans two adjacent parcels (5400 & 5420 28th St) and includes twelve 2-bedroom/1-bath apartments plus one studio. The twelve apartments, in three residential buildings, are 100% leased and generate $8,490/month ($101,880/year). At the new price that is $48,454 per unit and a 6.18x gross rent multiplier. THREE COMPONENTS AT NO ASSIGNED VALUE. All current income comes from the twelve apartments. A buyer also receives a vacant 600 SF commercial space, a non-operating on-site laundry, and a vacant studio apartment that needs renovation. Each is a near-term income project requiring capital and effort only — no rezoning, no entitlement, no repositioning risk. RENTS ARE RISING. Three units renewed this summer at higher rents on terms running into 2027, and five of the twelve apartments now lease at $725. In-place rents average $708 against a Gulfport market of $850-$1,100+ for comparable 2-bedroom units, leaving meaningful upside through ordinary turnover with no displacement. Bring the studio, commercial space, and laundry online and stabilized gross potential approaches $13,100/month. DOCUMENTED OPERATING PICTURE. Property taxes on both parcels total $6,456/year. Insurance runs $13,125/year on the owner's existing policy. Water and sewer on the master meter run approximately $862/month; dumpster is owner-paid. Two years of QuickBooks P&Ls, a unit-by-unit rent roll, executed leases, tax records, and utility billing are available to qualified buyers, along with a full investor offering package. Built 1979, 8,700 SF on 0.62 acres in Kennelworth Park. Zoned commercial/multifamily. The property completed a full round of buyer due diligence earlier this year and returned to market on a buyer financing failure, not an inspection issue. Seller is motivated. Ideal for a 1031 exchange buyer, regional multifamily operator, or value-add investor. Do not disturb tenants — showings by appointment only. All information deemed reliable but not guaranteed; buyer to verify all data.

Location

State MS

County Harrison

Direction From Canal Road, go East on 28th Street. From 25th Ave (Hwy 49), go West on 28th Street. Located across the street from the Navy SeaBee Base North Gate.

Interior

Interior Features Open Floorplan

Heating Central, Electric

Cooling Central Air, Electric

Flooring Ceramic Tile

Furnishings No

Window Features Aluminum Frames

Appliance Electric Water Heater, Range, Refrigerator

Laundry See Remarks

Exterior

Exterior Feature None

Parking Features Common, Concrete

Utilities Available Cable Available, Electricity Connected, Sewer Connected, Water Connected

Waterfront Description None

Roof Type Architectural Shingles

Porch Front Porch

Garage No

Building

Lot Description Corner Lot, Level, Dumpster

Foundation Slab

Sewer Public Sewer

Water Public

Architectural Style Traditional

Level or Stories One

Structure Type None

New Construction No

Others

Tax ID 0710n-03-028.000

Pets Allowed Breed Restrictions, Cats OK, Dogs OK

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MLS United(Mississippi)
Information is deemed to be reliable but not guaranteed. Copyright © 2026 MLS United, LLC.
Listed by Coldwell Banker Alfonso Realty-Lorraine Rd

NEARBY SCHOOL & BUSINESS

LaShonda Catchings
LaShonda Catchings

Agent License ID: S60101

+1(601) 937-1089 | lcatchings@edwardsrealtypro.com

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5420 28th Street